This hearing will focus on the recently released Joint Investigation Team (JIT) report conducted by the Bureau of Ocean Energy Management, Regulation, and Enforcement and the United States Coast Guard into the rig operations, and subsequent explosion, fire and sinking of the Mobile Offshore Drilling Unit (MODU) Deepwater Horizon owned by Transocean and operated by BP on April 20, 2010. After repeated delays, the federal government has finally released the findings of its investigation into the tragic Deepwater Horizon incident. This is another significant report on the disaster that provides a clearer picture about what caused the tragedy and how Congress, industry and the Administration can move forward to ensure that U.S. offshore drilling is the safest in the world. American offshore energy production is vital to jobs, our economy and our national security. Any reforms must be thoughtful and must be done right. Our goal must be to ensure offshore energy production can be done effectively and efficiently, while still meeting the highest safety standards.